Amid a recent cooling of interest in future orders for US import rebar, arrivals at US ports are surging and offering buyers a chance to snap up imports without taking the risk of waiting for material to arrive in the uncertain future. According to the latest US import license data, rebar import permits have already reached 81,943 mt so far in July (as of July 14), compared to June’s permit total of 76,516 mt. Turkey accounts for most of the July totals, with 52,690 mt, and source say position prices at the port are “about on par” with current offers for future arrival.
As such, importers are reportedly “getting flexible” with offers for future arrival, bringing the price range down by about $0.50 cwt. ($11/mt or $10/nt) compared to last week.
US import rebar offers from Turkey are now at $27.50-$28.50 cwt. ($606-$628/mt or $550-$570/nt) DDP loaded truck at US Gulf ports from Turkey, while offers from Mexico are now at $28.00-$29.00 cwt. ($617-$639/mt or $560-$580/nt) DDP Houston.